National Bank of Fujairah has implemented a new Credit Management System (CMS) from Annik Technology Services to help improve its credit processes from end-to-end.

The solution is intended to automate credit applications, to speed up the processing of applications for customers, and also to help the bank to better manage its credit risk and underwriting processes.

Rahul Sahgal, CEO of Annik, said that the successful implementation of the CMS platform has provided NBF with the flexibility, scalability, security and performance capabilities to enhance service delivery and bring more innovative products and services to market.

"The successful go-live with one of the established banks in the region is a validation of our technical capability and a proof of our strong commitment to assist our clients in the region."

Sutanu Gupta, Director, Business Solutions at Annik, said: "We position our CMS at the heart of the Credit Life cycle management and credit risk management, which is why this implementation was natural and important to us."

TN Sekhar, NBF's Chief Operations Officer, commented: "By automating NBF's credit process from origination to approval and subsequently into the documentation and limit handling process, Annik has provided NBF with an integrated platform that will allow us to scale up the refinement of our credit process as and when required."

Annik has increased its presence in the Middle East financial services sector, with a partnership Murex, the leading Capital Market, Treasury and Risk Management platform, and is providing consultants in various Murex implementations in the region, and has supported a number of Murex deployments in the region.